{"id":726061,"date":"2026-01-28T09:34:13","date_gmt":"2026-01-28T09:34:13","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/726061\/"},"modified":"2026-01-28T09:34:13","modified_gmt":"2026-01-28T09:34:13","slug":"london-rises-and-europe-muted-as-eu-and-india-announce-mother-of-all-trade-deals","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/726061\/","title":{"rendered":"London rises and Europe muted as EU and India announce &#8216;mother of all trade deals&#8217;"},"content":{"rendered":"\n<p class=\"yf-vbsvxt\">Gold prices surged to record highs on Wednesday morning, breaking through $5,200 for the first time and edging close to $5,300, as the US dollar slid to a near four-year low amid persistent geopolitical concerns and ahead of a Federal Reserve policy decision.<\/p>\n<p class=\"yf-vbsvxt\">Gold futures (<a data-i13n=\"cpos:1;pos:1\" href=\"https:\/\/uk.finance.yahoo.com\/quote\/GC=F\" data-ylk=\"slk:GC=F;cpos:1;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \" target=\"_blank\" rel=\"noopener\">GC=F<\/a>) rose 4% to $5,290.40 a troy ounce, while spot prices climbed 4.1% to $5,295.61 at the time of writing. Prices touched a new all-time high of $5,285.35 an ounce earlier in the session.<\/p>\n<p class=\"yf-vbsvxt\">\u201c[Gold&#8217;s rise] is due to the very strong indirect correlation with the dollar and&#8230; Trump&#8217;s remark to a casual question about the dollar, which implied that (there is) a broad-based consensus within the White House to have a weaker greenback going forward,\u201d said Kelvin Wong, a senior market analyst at OANDA.<\/p>\n<p class=\"yf-vbsvxt\">The US dollar index (<a data-i13n=\"cpos:2;pos:1\" href=\"https:\/\/uk.finance.yahoo.com\/quote\/DX-Y.NYB\/\" data-ylk=\"slk:DX-Y.NYB;cpos:2;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \" target=\"_blank\" rel=\"noopener\">DX-Y.NYB<\/a>), which measures the greenback against a basket of six major currencies, lost 0.2% to 96.08, a four-month low.<\/p>\n<p class=\"yf-vbsvxt\">The drop followed comments from US president Donald Trump that suggested a degree of comfort with a weaker currency, according to traders and analysts.<\/p>\n<p class=\"yf-vbsvxt\">Asked whether the dollar had fallen too far, Trump said its value was \u201cgreat\u201d.<\/p>\n<p class=\"yf-vbsvxt\">Analysts said the president appeared to be taking a calculated risk, noting that a weaker dollar could support US exporters and help reduce the country\u2019s trade deficit.<\/p>\n<p class=\"yf-vbsvxt\">\u201cWhen the person who could jawbone to defend the currency sounds unconcerned, the perceived backstop under the dollar gets thinner,\u201d said Anthony Doyle, chief investment strategist at Pinnacle Investment Management.<\/p>\n<p class=\"yf-vbsvxt\">Win Thin, chief economist at Bank of Nassau, said: \u201cThe Trump administration is taking a calculated risk.&#8221;<\/p>\n<p class=\"yf-vbsvxt\">\u201cForeign exchange typically is the leader in terms of showing market discomfort with a country\u2019s policies and economic outlook, so this dollar weakness bears watching.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Gold prices surged to record highs on Wednesday morning, breaking through $5,200 for the first time and edging&hellip;\n","protected":false},"author":2,"featured_media":726062,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7757],"tags":[748,393,2557,97413,1699,28709,1880,4884,730,257,216225,22817,16,15,1220],"class_list":{"0":"post-726061","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-london","8":"tag-britain","9":"tag-england","10":"tag-european-commission","11":"tag-european-commission-president","12":"tag-european-union","13":"tag-free-trade","14":"tag-ftse-100","15":"tag-great-britain","16":"tag-india","17":"tag-london","18":"tag-mother-of-all-deals","19":"tag-narendra-modi","20":"tag-uk","21":"tag-united-kingdom","22":"tag-ursula-von-der-leyen"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115972044418542923","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/726061","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=726061"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/726061\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/726062"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=726061"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=726061"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=726061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}